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Michael Avenatti Arrested and Charged With Extortion, Wire, And Bank Fraud

Attorney Michael Avenatti has been arrested and charged with extortion, wire, and bank fraud for trying to extort $20 million out of Nike and using a client’s money to pay his own personal expenses.

NBC News’s Tom Winter tweeted:

Video:

Michael Avenatti was about to hold the press conference that he threatened Nike with that would cost them $10 billion in market valuation:

But the SDNY swooped in and put an end to Avenatti’s plans:

Avenatti was caught on tape threatening Nike unless he was paid. It turns out that there was a good reason why Aventatti was able to tangle so successfully with Trump world. It turns out that he may be cut from some of the same cloth as Trump’s crew. There has been a lot of crazy news over the last 72 hours, but the story is the most out of left field yet.

For more discussion about this story join our Rachel Maddow and MSNBC group.

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